International


The International Accounting Standards Board (IASB) exposed a draft memorandum of understanding on the role of accounting standard setters and their relationships with the board ( www.iasb.org/uploaded_files/ ). The agreement identifies the responsibilities of the IASB and other standard setters to foster the adoption of, or convergence with, international financial reporting standards. Comments are due July 29, 2005.

The International Organization of Securities Commissions, the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors, the World Bank and the Financial Stability Forum established the Public Interest Oversight Board (PIOB) to oversee the International Federation of Accountants’ standard-setting activities relating to audit performance, auditor independence and ethics, audit quality control and assurance and education ( www.ifac.org/downloads/inauguration_of_PIOB.pdf ).

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.